Thursday, September 3, 2009

Prepaid cards might not be so bad for college students after all

We recently posted on our blog a POV from the Baltimore Sun that explains that prepaid cards might not be the best option for college students because of hidden fees. Today's post on the Baltimore Sun offers a different perspective on that opinion, mentioning that it unfairly portrayed the functions of a reloadable prepaid card.

In the post, the author specifies that credit cards can potentially carry the risk of debilitating debt for college students, if not used properly, and so prepaid cards are a much better option. ATM Fees and overdraft fees from debit cards are far more costly and expensive than prepaid card fees. Not to mention most of the fees on prepaid cards are dependent on the card holder's usage. What's your take on it?

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